Indian equities could be entering a sustained bull market, with the Nifty 50 potentially reaching 30,000 in a bullish scenario by 2027, according to Akhil Bhardwaj, founder and senior partner at Alpha Capital. However, he considers 28,000 a more reasonable base-case target, provided crude oil prices and global interest rates remain low, geopolitical conditions remain stable, and corporate earnings continue to improve.
In an interview with Moneycontrol, Bhardwaj said a modest reduction in capital gains tax, rather than its complete abolition, would help make Indian equities more competitive and send a positive signal to foreign investors.
He also identified banking as his preferred sector to participate in a broader market recovery, citing relatively attractive valuations, healthy credit growth and scope for improvement in net interest margins.
After two years of underperformance, is the Indian market entering a new bull phase? Can the Nifty 50 reach 30,000 by 2027?
India could be entering a sustained bull market, potentially bringing an end to the past two years of underperformance. However, investors should remain cautiously optimistic.